USDJPY Daily Analysis – June 1, 2018

USDJPY broke above the top trend line of the price channel on its 4-hour chart, suggesting that corrective consolidation for the downtrend from 111.39 is underway. Range trading between 108.11 and 110.00 could be expected in a couple of days. Support is at 108.11, a breakdown below this level could trigger another downside movement towards 106.00.

USDJPY 4-hour chart